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--- Begin Message ----Caveat Lector- 10:28p ET Sunday, June 15, 2003Dear Friend of GATA and Gold: While the financial world speculates about gold, GATA consultant Reg Howe once again digs out the source material and reports the facts. In his new commentary tonight, titled "Not Your Father's Gold Market," Howe analyzes the latest figures on gold derivatives as reported by the Bank for International Settlements and the U.S. Treasury Department's Office of the Comptroller of the Currency. He concludes that gold derivatives -- paper gold, promises to pay gold -- are exploding even as mining companies are sharply reducing their hedging positions. Howe writes: "At over 30,000 tonnes, total gold derivatives are now approximately equal to total reported official gold reserves. Yet, although the data on gold derivatives reported by the BIS represents the only publicly available information compiled on the global gold market according to a published methodology by a presumably reliable source, neither the World Gold Council nor Gold Fields Minerals Services appears to make any effort to try to reconcile their statistics on global gold flows with the BIS figures." There's only one way to read the data: That the central banks have thrown most of their gold at the market in a desperate effort to suppress the price, to channel investment demand for gold into paper gold rather than the real thing, and to prevent people from escaping the bank-controlled paper economy, and that the banks don't have much gold left. Howe's new commentary is bound to be the most important examination of the gold market for some time. It is admirably complemented by charts drawn by GATA consultant Mike Bolser. It is the antidote for the disinformation that surrounds the gold market. You can find it at Howe's Golden Sextant Internet site here: http://www.goldensextant.com/commentary25.html#anchor168813 Or try this abbreviated link: http://ls.shapebyforce.com/sbf/203 CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. ---------------------------------------------------- To subscribe to GATA's dispatches, send an e-mail to: [EMAIL PROTECTED] To unsubscribe, send an e-mail to: [EMAIL PROTECTED] ---------------------------------------------------- RECOMMENDED INTERNET SITES FOR DAILY MONITORING OF GOLD AND PRECIOUS METALS NEWS AND ANALYSIS Free sites: http://www.jsmineset.com http://www.mineweb.com/ http://www.gold-eagle.com/ http://www.kitco.com/ http://www.usagold.com/ http://www.GoldSeek.com/ http://www.goldenbar.com/ http://www.silver-investor.com http://www.thebulliondesk.com/ http://www.sharelynx.net http://www.mininglife.com/ http://www.financialsense.com http://www.goldensextant.com http://www.goldismoney.info/index.html http://www.depression2.tv http://moneyfiles.org/ http://www.minersmanual.com/minernews.html http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html Subscription site: http://www.lemetropolecafe.com/ Eagle Ranch discussion site: http://os2eagle.net/checksum.htm ---------------------------------------------------- COIN AND PRECIOUS METALS DEALERS WHO HAVE SUPPORTED GATA AND BEEN RECOMMENDED BY OUR MEMBERS Centennial Precious Metals 3033 East 1st Ave. Suite 403 Denver, Colorado 80206 www.USAGold.com Michael Kosares, Proprietor US (800) 869-5115 Canada 1-800-294-9462 European Union 00-800-2760-2760 Australia 0011-800-2760-2760 [EMAIL PROTECTED] Colorado Gold 222 South 5th St. Montrose, Colorado 81401 www.ColoradoGold.com Don Stott, Proprietor 1-888-786-8822 [EMAIL PROTECTED] Investment Rarities Inc. 7850 Metro Parkwa Minneapolis, Minnesota 55425 http://www.gloomdoom.com Greg Westgaard, Sales Manager 1-800-328-1860, Ext. 8889 [EMAIL PROTECTED] Lee Certified Coins P.O. Box 1045 454 Daniel Webster Highway Merrimack, New Hampshire 03054 www.certifiedcoins.com Ed Lee, Proprietor 1-800-835-6000 [EMAIL PROTECTED] Miles Franklin Ltd. 3015 Ottawa Ave. South St. Louis Park, Minn. 55416 1-800-822-8080 / 952-929-1129 fax: 952-925-0143 http://www.milesfranklin.com Contacts: David Schectman, Andy Schectman, and Bob Sichel Resource Consultants Inc. 6139 South Rural Road Suite 103 Tempe, Arizona 85283-2929 Pat Gorman, Proprietor 1-800-494-4149, 480-820-5877 [EMAIL PROTECTED] Swiss America Trading Corp. 15018 North Tatum Blvd. Phoenix, Arizona 85032 http://www.buycoin.com Dr. Fred I. Goldstein, Senior Broker 1-800-BUY-COIN [EMAIL PROTECTED] ---------------------------------------------------- HOW TO HELP GATA If you benefit from GATA's dispatches, please consider making a financial contribution to GATA. We welcome contributions as follows. By check: Gold Anti-Trust Action Committee Inc. c/o Chris Powell, Secretary/Treasurer 7 Villa Louisa Road Manchester, CT 06043-7541 USA By credit card (MasterCard, Visa, and Discover) over the Internet: http://www.gata.org/creditcard.html By GoldMoney: http://www.GoldMoney.com Gold Anti-Trust Action Committee Inc. Holding number 50-08-58-L Donors of $750 or more will, upon request, be sent a print of Alain Despert's colorful painting symbolizing our cause, titled "GATA." GATA is a civil rights and educational organization under the U.S. Internal Revenue Code and contributions to it are tax-deductible in the United States. -END- ------------------------ Yahoo! Groups Sponsor ---------------------~--> <FONT COLOR="#000099">Get A Free Psychic Reading! Your Online Answer To Life's Important Questions. </FONT><A HREF="http://us.click.yahoo.com/Lj3uPC/Me7FAA/ySSFAA/WfTolB/TM"><B>Click Here!</B></A> ---------------------------------------------------------------------~-> Your use of Yahoo! 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